|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||2||$1,250,000|
During FY 2012, EDA awarded six grants totaling $5.3 million throughout the State of Nevada. These investments encourage the growth of research and commercialization, life sciences, information technology, clean energy, advanced manufacturing, entrepreneurship, export development and disaster resiliency. By supporting the bottom- up, regionally-owned economic development initiatives, these investments are helping to create jobs and position Nevada communities to maximize its economic assets and potential. These investments are expected to create or retain 1,048 jobs according to grantee estimates.
Investment Spotlight: EDA Construction Project Diversifies the Reno-Tahoe Economy
Historically, the economy of the Reno-Tahoe region of Nevada has been very dependent upon tourism, including gaming, as well as housing and construction. This heavy reliance on economically sensitive industries made the area especially vulnerable to recession and slower to recover than much of the U.S.
Reeling in the wake of the recent economic downturn, Reno-Tahoe leaders renewed the region’s efforts to diversify its economy. Key to these efforts is capitalizing on Reno-Tahoe’s existing science and technology assets such as the Dandini Research Park, Desert Research Institute, the University of Nevada-Reno, Truckee Meadows Community College, as well as its significant tech businesses. In FY 2012, EDA awarded $2.9 million to fund roadway infrastructure at the Dandini Research Park to support the development of the Collaborative Core and Upper Partnership Zone. This project will help create higher-wage, higher-skill research jobs, bolstering clusters such as clean tech, advanced manufacturing, information technology, and life sciences, which will significantly help rebuild the region’s economy. The project is expected to create 900 jobs.